Automotive Silicone Market Size, Share & Trends Analysis Report By Product (Elastomers, Adhesives & Sealants, Resins, Fluids, Gels), By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global automotive silicone market size was valued at USD 439.19 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2030. Factors, such as growth in demand for silicones in various application of automobile and government regulations on vehicle emission is expected to boost the market growth. Silicones are widely utilized in manufacturing automotive components such as seat belts lubricants, door stoppers, additives, sheets, greases, sealants, and connectors, and owing to their properties such as thermal stability, low thermal & chemical reactivity, high resistivity, and others. Hence products such as elastomers, adhesives, sealants, and others have witnessed a rise in demand from manufacturers of silicones for the automotive industry.

To cater to the increasing growth of the automotive industry, silicone products are being utilized for providing higher stability. The automotive silicone market offers opportunities for usage of a variety of products such as elastomers, sealants, adhesives, resins, and others since these products are used for manufacturing of various applications in the automotive industry including interior & exterior parts, electrical & suspension systems, and engine drive systems.

The depleting crude oil reserves and environmental concerns due to the usage of plastics have propelled the demand for silicone products. Government restrictions on the consumption of plastic products in different end-use industries are expected to further stimulate silicone usage in automotive production. Products manufactured with silicone such as additives, airbag fabric coatings, diaphragms, and gaskets are widely accepted in the automotive application.

Major players are continuously working on developing silicone components owing to the rising environmental concerns. For instance, in January 2021, Shin-Etsu Chemical Co., Ltd. extended its product portfolio for silicone to manufacture thermal interface materials for electric vehicles due to the demand for heat overindulgence measures for lithium-ion-based batteries and various other electronic control systems.

Product Insights

The elastomer segment dominated the global automotive silicone market and accounted for more than 44.0% of the total market share, in terms of revenue, in 2021. Elastomers can undergo huge physical distortions without cracking or breaking, which accounts for their multiple uses in the automotive industry. It is extremely flexible, resistant, and can easily endure high temperatures. Apart from common applications such as tires, the elastomer is extensively used in the production of hoses & nozzles, seat belts, dashboards, and other enclosures for automotive parts.

Automotive Silicone resins are used to provide an aesthetic durable finish having high resistance to UV and chemical exposure. Silicone resins are also impressive for their outstanding oxidation resistance, their water-repellency with concurrent vapor permeability, as well as their outstanding mechanical properties, thus ensuring that the end product is durable, sustainable, and economical. The water-repellent nature of silicon resins has enabled the use of these products as a protective coating for automotive parts.

Other products such as silanes, siliconates, and silicon emulsions are mainly used in automotive and specialized applications owing to their properties such as gloss, durability, and detergent resistance. The aforementioned factors are likely to boost the automotive silicone market over the forecast period.

Application Insights

The interior and exterior parts application segment dominated the global automotive silicone market and accounted for more than 37.0% of the total revenue share in 2021. Growth in the production of lightweight automobiles across the globe has led to a higher demand for exterior & interior parts such as damper oil for meters, auto paint additives, hard coating agents, and others.

The high electrical resistivity of these materials is expected to boost their demand. The rising focus on infotainment and in-car electronic displays is expected to have a positive impact on the demand for silicones in electrical systems application. Extensive R&D and innovations in the in-dash display monitors and responsive touch screens in vehicles are expected to develop new opportunities for the market over the coming years.

Region Insights

Asia Pacific was the largest segment in 2021 and accounted for more than 44.0% of the overall market revenue share. China led the market in 2021, in terms of both volume and revenue in the region.Asia Pacific dominated the automotive silicone market driven by increasing automobile manufacturing in the region. SAIC Motor, Dongfeng, FAW, Chery, and Chang'an are some of the major automotive companies operating in China.

The demand in Europe is anticipated to witness an average growth at a CAGR of 3.6% on account of a halt in the automobile industry in this region. Germany is one of the significant markets driving the demand for automotive silicones in this region. The presence of numerous automotive component producers and its proximity to Poland which is the prime automobile market in Eastern Europe is likely to supplement the demand in Germany.

Key Companies & Market Share Insights

The key industry players include Henkel AG & Co. KGaA, 3M Company, Elkem ASA, ACC Silicones Ltd., Shin-Etsu Chemical Co., and Wacker Chemie AG along with the presence of a few medium and small regional players. Major players are continuously working on developing bio-degradable polymers owing to the rising environmental concerns.

A majority of the global companies are expected to increase their product offerings to Asia Pacific, Central & South America, and North America owing to a high growth potential in these regions given the expansion of the industry. Increasing industrialization & urbanization, rising population, improving living standards, and rising disposable income, are key factors driving the growth of the automotive silicone industry in Asia Pacific, Europe, Central & South America, and the Middle East & Africa regions. Some prominent players in the global automotive silicone market are:

• Henkel AG & Co. KGaA

• 3M Company

• Permatex

• Elkem ASA

• Basildon Chemicals

• Specialty Silicone Products, Inc.

• Dow

• ACC Silicones Ltd.

• Wacker Chemie AG

• Shin-Etsu Chemical Co.

• Laur Silicone, Inc.

• CSL Silicones Inc.

Automotive Silicone Market Report Scope

Global Automotive Silicone Market Segmentation

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the global automotive silicone market report based on product, application, and region:

• Product Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • Elastomers

  • Adhesives And Sealants

  • Resins

  • Fluids

  • Gels

  • Others (PA)

• Application Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • Interior And Exterior Parts

  • Engine & Drive Train System

  • Electrical System

  • Suspension Systems

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • GCC Countries

    • South Africa